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Italy: Louis Vuitton spends big for clothier Loro Piana

By  |  July 9, 2013
Italy: Louis Vuitton spends big for clothier Loro Piana

LVMH Moet Hennessy Louis Vuitton inked a deal to buy a majority stake in Italy-based cashmere clothing company Loro Piana, say reports. The deal, made for $2.57 billion, would see 80 percent of Loro Piana in Louis Vuitton’s portfolio; it remains subject to regulatory approval. Loro Piana is most known for its $1,385 cashmere sweaters. If cleared, the buyout would be Louis Vuitton’s largest since 2011’s acquisition of Bulgari.

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